After graduating from high school, Balin plans to go to college. The college tuition is $15,000 a year. But, instead of going to college, Balin could take a full-time job paying $20,000. If Balin decides to go to college, what is his opportunity cost for attending for one year?
A. $35,000
B. $5,000
C. $15,000
D. $20,000
Answer: A
You might also like to view...
The poverty line was originally determined by taking the cost of a minimal food budget for a family and multiplying by 2
Indicate whether the statement is true or false
A decrease in the demand for the output that an input produces will cause the input's: a. supply curve to shift to the right. b. supply curve to shift to the left
c. demand curve to shift to the right. d. demand curve to shift to the left.
Which of the following is not a requirement for price discrimination?
a. The firm must be able to identify consumers who are willing to pay more for the product. b. The firm must be able to prevent resale of the product. c. There must be a downward-sloping demand curve for the product. d. The firm must face different costs for the goods sold to different consumers.
Why should the United States be concerned over a sharp depreciation of the U.S. dollar in the world marketplace?
What will be an ideal response?